"Yes ages ago , they got shafted management have learnt there lesson not to trust anyone now hopefully."
@jaguar68 - Can you please expand on your answer to @fluffynymph because as far as I can see nothing came of the US$6.1m claim by SUN in Laos. There was an ASX ann in June last year detailing what the situation was at the time but it was ignored in the Annual Report (issued on 01/10/2020) - not even a mention of CGA (Cann Global ASIA - 55%owned subsidiary) - instead, we see a Cann Global THAILAND - again 55%-owned. In that ann of June 2020, it was also stated "CGB does not believe that this claim is material to shareholders or to the market" which is probably why it didn't appear in the FY Report.
In-so-far-as I can see, nobody got shafted and the claim was filed with the Centre of Economic Dispute Resolution in Laos with no further update as yet.
Somehow though, "It should be noted that CGB itself is not a party to the contracts between CGA and SUN, nor has CGB provided any guarantees or undertakings in respect of CGA’s obligations under the arrangements" - I'm not sure how they (CGB) can make this statement when they have the 55% controlling interest in CGA....but maybe that's again the usefulness of there being 2 of the 6 management in the Legal profession.
CGB Price at posting:
0.5¢ Sentiment: None Disclosure: Held
